Gas prices have jumped again, surpassing the $1.20 a litre mark in most major cities across Canada.
According to Gasbuddy.com, prices in Quebec City are hovering around $129.5 a litre. In Victoria, prices are about $1.24 a litre.
In southern Ontario, in cities like Toronto and Hamilton, prices at the pump are averaging about $1.20 a litre.
Prices are even higher in northern Ontario cities.
Gas stations in the Halifax area are showing prices in the $1.28 a litre range while some stations in Winnipeg and Vancouver have prices of about $1.26 a litre, reports The Canadian Press.
Gas prices are above the $1.20 mark in Calgary, Regina, P.E.I. and Winnipeg.
Edmonton, in comparison to other major Canadian cities, appears to have the lowest price, $118.9 cents a litre.
Dave Collins, the owner of an independent filling station in Halifax told CTV Atlantic "it's going to be a miserable summer for everybody."
"It's really simple because we have the second highest tax regime. Only Newfoundland has higher taxes than we do. Nova Scotia is a very high road tax environment."
Diana Whalen, a Liberal MLA in Nova Scotia, agreed provincial taxes have a lot to do with the high prices in her province.
"Our party has been calling for a 4 per cent cut to the fuel tax which is the tax on every litre of gasoline. We've been saying that for quite a few months now and the prices at this point in time are showing we're really not competitive with the other provinces."
The high prices have people across Canada grimacing at the pumps.
"People are frustrated by the high gas prices and bracing for $1.40 to $1.50 per litre this summer across the country," Jason Toews, co-founder of Gasbuddy.com, told CTV Newsnet on Friday. "It's going to be a tough summer."
Liberal MP Dan McTeague is accusing refiners of taking advantage of consumers and said market fundamentals do not support the rising prices.
He told CTV's Mike Duffy Live that refineries, the oil industry and the four major oil companies in Eastern Canada are taking advantage of consumers.
He said the only solution is to build more oil refineries, and for the federal government to toughen the Competition Act to ensure prices are fair. Though he said the feds don't have the authority to regulate gas prices.
McTeague said he expects much of the next week explaining to his constituents why prices are so high.
"A lot of people are at the breaking point and I suspect it's going to be very hard for a lot of us to explain exactly how we got here, but there's no doubt this is going to cause enormous pain for just about everybody."
New Democrat finance critic Judy Wasylycia-Leis, agreed it will be a prime topic for discussion while Parliament takes a break next week.
"I think they're going to be pretty upset their price of gas keeps going up at the same time the government is giving another $1.5 billion in subsidies to the oil sands, to the big gas companies, the big developers, and yet nothing is being done to protect consumers," she told Mike Duffy Live.
But Conservative MP Rick Dykstra said the government has taken big steps -- lowering the GST by two per cent, putting money towards renewable energies and alternative fuels, helping out the provinces and offering tax credits for bus passes.
"We think we're trying to balance the needs of individuals and the economy with ensuring we're working towards fighting greenhouse gas emissions and lowering them and being responsible with our country's dollars," Dykstra said.
Edward Jones analyst Lanny Pendill said Thursday that pump prices have not even come close to catching up with refiners' soaring costs.
"The net impact has been the profitability at the refineries has declined significantly from last year's levels,'' he said.
"The refiner, in essence, is absorbing some of that cost increase of oil.''
BNN's Linda Sims reported an ease in crude oil prices Friday. Still, she said prices remained above US$114 a barrel.
